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SPDR S&P 500 ETF (ETF:SPY), Vanguard Value ETF (ETF:VTV) - Why The CPI Inflation Number Was Not 'A Bearish Gamechanger' For Stocks

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SPDR S&P 500 ETF Trust (NYSE: SPY) took a big hit this week after the U.S. Labor Department reported a 4.2% rise in CPI for the month of April, the highest inflation reading since 2008.
The big inflation number spooked investors who are concerned the $6 trillion in COVID-19 stimulus could trigger hyperinflation, but Sevens Report Research’s Tom Essaye said Thursday the headline inflation number may not be as bad as it appears at first glance.
Digging Deeper: Essaye pointed out that a deeper dig into the April inflation number reveals airfare, used vehicles and lodging prices were all up 10% from a year ago. Essaye said those three markets endured massive, unsustainable jumps in prices related to specific catalysts: airfare and lodging prices jumped because of economic reopenings and used vehicle prices jumped because of semiconductor supply issues. ....

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